Pelosi Caught With Her Hands In The Cookie Jar! Profited Off The Paycheck Protection Program
House Speaker Nancy Pelosi (D-CA) has been caught with her hands in the cookie jar, a company connected to her husband received a loan from the Trump administration Paycheck Protection Program which was a program meant to help small business get through coronavirus stay at home orders.
Bloomberg News first reported the discovery:
Nancy Pelosi’s spokesman described Paul Pelosi as an investor in the firm, which turned up in loan-level disclosures for the program that were released Monday by the Treasury Department and Small Business Administration. […]
EDI Associates is listed as a recipient of a loan between $350,000 and $1 million. The same company was listed in Nancy Pelosi’s latest House financial disclosure report filed in May 2019, for the year 2018. […]
EDI Associates is listed in Pelosi’s disclosure form as located in Sonoma, California. It’s identified as a limited partnership with an investment in the El Dorado Hotel. The value of the asset on the form — identified as belonging to Pelosi’s spouse — is listed as between $250,001 and $500,000.
“He’s an investor. So, he was not aware the loan was applied for,” Drew Hammill, Pelosi’s deputy chief of staff, said in a statement to the business news outlet.
The discovery comes as Pelosi just criticized the President over his handling of the program:
“The Trump administration’s concealment of PPP loan data was a disturbing sign of its complete indifference to ensuring that Paycheck Protection Program funds go first and foremost to the most vulnerable small businesses on Main Street. Its reversal is an overdue step toward securing the transparency needed to ensure struggling small businesses, particularly minority, women and veteran-owned businesses, are getting the vital assistance they need to survive and retain their workers.”
On Monday, the government disclosed the 650,000 businesses and nonprofits that received taxpayer money from the program. Those that received funds covered a wide range of industries from manufacturing and private equity companies to industries that were hit the worst, restaurants, and hospitality.